The users who use it claim it’s a very good broker with responsive teams of support and clean reputation. The platform's suitability for users seeking diversified trading opportunities is evident through its multi-asset offerings. The reported improvements in trading experiences over time demonstrate the platform's responsiveness to https://forex-review.net/lexatrade/ user feedback and commitment to enhancing service quality. However, the notably low recommendation rate of 34% suggests that while users find the platform adequate, they may not consider it exceptional enough to actively recommend to others.
Lexatrade Review Is it good, or is it a scam?
But when I tried to withdraw my first withdrawal, they blocked my account without any real explanation. This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. I requested withdrawal but they blocked my account and minus all the profit I received without any acceptable reason.
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- If the forex market is volatile, the commodities markets go through even higher levels of volatility, which means trades must be carefully decided upon.
- Based on user feedback we can find, this lexatrade review shows a platform with a solid trust rating of 75.
- The platform is structured to cater to ease of use, with clearly marked charts, technical indicators, order entry panels, and real-time market data.
- LexaTrade has gained trust from its client base through its multi-asset trading services.
- However, the limited detailed information about user interface design, navigation ease, and account management features makes it difficult to assess the complete user experience comprehensively.
User feedback shows that trading experiences have improved over time. This presents a challenge for traders seeking complete information before account opening. The broker's base in Saint Vincent and the Grenadines suggests operation under that area's framework. The platform's approach focuses on offering diverse trading opportunities while maintaining what appears to be a simple operational structure. The broker's business model centers on providing CFD trading services across multiple asset categories. LexaTrade operates as an online trading platform based in Saint Vincent and the Grenadines.
LexaTrade Review Warning Signs – Why LexaTrade is a scam broker?
How do you know if a broker is scamming you?
Always research brokers and their firms for past disciplinary issues before investing. Beware of cold contacts and high-pressure sales tactics to avoid investment fraud. Use FINRA's BrokerCheck and the SEC's IAPD to verify a broker's registration and background.
This is an area where caution is advised, as regulatory oversight is a critical part of ensuring the safety of your funds. LexaTrade claims to offer financial services online, but it has no valid license from any trusted financial authority such as the Financial Conduct Authority (FCA). This article checks if LexaTrade is real or just another scam by looking at its legal status and common scam patterns.
Investment Recovery
They also implement Negative Balance Protection, which prevents each client’s funds from reaching zero. They can also set stop loss and take profit, track the movement of quotes, check forecasts for different instruments, and view their account balance. Legal avenues are limited when the broker is registered offshore and lacks a regulatory framework. LexaTrade advertises several account types, from basic to VIP, each with distinct perks. Investment frauds use social engineering and polished websites to gain trust and drain funds. Of course there are questions, but after correspondence with tech support everything is successfully resolved.
- The company began its work by managing cash transactions in real-time trading using a PAMM account.
- Lexatrade is new forex and CFDs brokerage that primarily operates in Europe.
- Also keep in mind that the company is regulated , which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all.
- The support itself is also 24/7 and multilingual, which is a very nice touch, considering they are mostly very restrictive about everything.
- The scammer builds trust through a fake relationship – often using dating apps or messaging platforms – before introducing a phony investment scheme.
- This rating suggests that users generally view the platform as reliable and trustworthy for conducting trading activities, though it falls short of exceptional trust levels.
Trading Experience Analysis
The strongest suit of LexaTrade is its quality services, which were noted multiple times by traders in LexaTrade broker reviews. The broker offers quite a few account types but lacks advanced trading platforms. Analyzing different LexaTrade broker reviews, it is clear that a VIP account is most recommended for expert traders with years of experience in the Forex market.
Warning: LexaTrade Is An Organised Scam Service Use: Livelength Of Use: Over 1 Year
Yet still, there are many exchanges and brokers that give you just as comfortable an experience without making you pay extra. With the absence of financial authorities, clients’ funds are exposed to intensive risk, say, for example, LexaTrade decided to shut down its business. Traders considering LexaTrade should contact the broker directly for specific terms, conditions, and regulatory clarifications to make fully informed decisions. However, potential clients should be aware of the limited regulatory information and conduct thorough due diligence before engaging with the platform. This is particularly true for those comfortable with offshore broker arrangements.
Unfortunately scammers increasingly also use SSL certificates so it is no guarantee that you are visiting a reliable website. Fill in the form below to get a free consultation with experts who may help you trace your funds. A clear warning sign is that LexaTrade is not supervised by any official financial regulator. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. Because LexaTrade has no oversight, there is no protection for clients’ funds and no independent organization checking its activities. Use the form below to request a free consultation from cyber-intelligence experts who may help you trace your lost funds.
Lexatrade withdrawal finally successful
There is no solid information about the founder of LexaTrade and its parent company. It doesn’t do anything to stand out, and the vast majority of traders can easily find an option that’s both more comfortable and more powerful. The owning/operating company is Swissone Group Ltd, located in St. Vincent and the Grenadines and registered with the IFMRRC – Certificate TSRF RU 0395 AA V0165.
As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows. That means the accounts suit most strategies, and as such, can attract diverse groups of traders. It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style.
As such, we can’t hold the deposit requirement for MT4 against the broker too much. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back. That being said, they are very new at the time of this review, so there is time for improvement. Live chat support was available at the time of our visit but a bit slow to answer.
Is it safe to keep more than $500,000 in a brokerage account?
Bottom line. The SIPC is a federally mandated, private non-profit that insures up to $500,000 in cash and securities per ownership capacity, including up to $250,000 in cash. If you have multiple accounts of a different type with one brokerage, you may be insured for up to $500,000 for each account.
Users advise LexaTrade to review their minimum deposits against the offers found in each of their trading accounts. Forex broker LexaTrade site offers traders to open Start account with an initial deposit of $ 100, which is a fairly advantageous offer compared to other brokers. LexaTrade offers several trading platforms to cater to different types of traders, from beginners to advanced users. This rating suggests that users generally view the platform as reliable and trustworthy for conducting trading activities, though it falls short of exceptional trust levels.
Also, scammers, as you read in this ASR review, are famous for not withdrawing your money. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities. It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully. The company charges a service charge of 5% if users make less than 5 independent transactions. The provision of these platforms by the brokerage are seen as lucrative measures for each trader who chooses to open a live account with a broker.
It only provides its own custom platform, which is nowhere near the advanced software. “I just received an email from Oliver Thompson and he said l have until 26/9 to withdraw funds from my…“ “I can't get into my account by using Account Recovery Steps. “Although they wasnt able to get my funds back but I still consider them a top service, the explain…“ I am forever grateful for Mr. Brady exceptional support. With his guidance, I was able to successfully recover my money, and I couldn't have done it without him.
